Major AI stocks are getting obliterated lately, signaling what may be the beginning of the end for the tech euphoria.

cross-posted from: https://lemmy.ca/post/73158617

Burn baby burn!!!

“Many in the market feel we have no choice but for it to work out,”

Yes this is what it everyone feels like when they are in denial…

  • Goodbye_bluesky@lemmy.world
    481·
    7 days ago

    I sincerely hope that a few of the fascist tech bros get absolutely obliterated. If all of them were gone with the snapped of a finger the world would instantly be a better place.

      • gnutrino@programming.devEnglish
        24·
        7 days ago

        I don’t think a bail out would work (which isn’t to say the Trump administration won’t try it - you can never confidently predict they won’t do something stupid). If they can’t work out how to make a profit after $2T of capex, more money on the furnace isn’t going to help.

        As much as the bank bailouts after 2008 left a bad taste in my mouth, banks are at least self evidently a profitable business that were able to successfully use the bailout to stay afloat.

        I could potentially see the AI companies’ creditors getting a bailout but most of them seem to be private equity so a bailout would be really unpopular (although see my above comments on not betting against the current US leadership doing something stupid).

        On the bright side, there’s a real chance we could see Larry Ellison go personally bankrupt. He lives on loans secured against Oracle shares and Oracle is currently indebted up to its eyeballs and borrowing at basically junk rates. If it goes down, those loans get called and he eats shit (to the delight of Sun Microsystems fans everywhere).

        • coyootje@lemmy.world
          2·
          6 days ago

          you can never confidently predict they won’t do something stupid

          I’d argue you can predict they will do something stupid because that’s basically all they’ve done ever since they took office

    • Formfiller@lemmy.world
      3·
      6 days ago

      If we have a revolution and round capitalist class up and arrest them the world will be instantly better

    • CharlesDarwin@lemmy.worldEnglish
      1·
      5 days ago

      I doubt it. I could see something like OpenAI and Anthropic bought up by someone else. Google, MS, Oracle?

      I doubt any of these people will ever miss a meal or have no roof over their head.

      Even if these people were to be worth 1/100th of what they are worth now, they’d still be plenty comfortable.

  • CharlesDarwin@lemmy.worldEnglish
    6·
    5 days ago

    People looking forward to this don’t realize how much all of us will get so fucked by an actual implosion.

    It won’t be Musk, Altman, etc who really suffer.

    Also, a few tech stocks went down in the day’s trading, but even those are up (way up) YTD, so I guess we’ll see what happens.

      • CharlesDarwin@lemmy.worldEnglish
        1·
        5 days ago

        Yeah, probably true. There is a way a responsible admin might try to orchestrate a softer landing. The assholes in this administration are not the least bit responsible.

        I’m just remembering two things:

        1. The people that could not wait for the dot-com bubble to burst. That was extremely painful in the job market if you were even tangentially related to dot-com.

        2. Same thing for people that could not wait for the inflated house prices to drop. Also, extremely painful, for nearly everyone.

  • nosuchanon@lemmy.world
    181·
    7 days ago

    The 2098 2008 crash was caused by the rate of mortgage growth beginning to slow. It was a confidence issue in MBS, similar to the AI bubble now. People are starting to lose confidence in their investments and wondering if it is still a good idea to buildout massive data centers.

    • CharlesDarwin@lemmy.worldEnglish
      1·
      5 days ago

      It was wild seeing the panic after DeepSeek. I have no idea what is propping it up after that.

      I think they hope to keep it going based on vibes and keeping hardware so expensive (for others) that companies don’t opt to build their own local rigs to run a model that is probably “good enough” for a lot of tasks.

      AI is not going anywhere, but the speculative fictions around all this are going to look wild in the aftermath, IMHO. Like tulip-bulb mania stupid. The notion that everyone needs “frontier models” all the time for all tasks and is going to pay enough in fees to do it just seems crazy to me.

      • nosuchanon@lemmy.world
        2·
        5 days ago

        I think they hope to keep it going based on vibes and keeping hardware so expensive (for others) that companies don’t opt to build their own local rigs to run a model that is probably “good enough” for a lot of tasks.

        That didn’t occur to me. Makes sense tho. I sort of was wondering why companies hadn’t figured it out yet. Investment into running on your own hardware needs to be super expensive so they can sell you their AI service.

    • kerrigan778@lemmy.blahaj.zoneEnglish
      8·
      6 days ago

      I had sushi, it was wonderful. But my wonderful partner made 15 bean soup for the week and it came out so good. Andouille and Italian sausage and lots of pepper and tomato. Just perfect.

    • NιƙƙιDιɱҽʂ@lemmy.world
      3·
      6 days ago

      Tuna salad sandwich with one regular slice of bread, one butt slice, from a bag I accidentally left open yesterday. I need to go shopping pretty bad…